Loans

Parents of dependent students may apply for a Federal Parent PLUS Loan up to the student's cost of attendance, less other financial aid received.  Only one parent is the borrower on the PLUS Loan, and application processes must be completed for each Ashland University child you wish to borrow for.  The interest rate is fixed at 7.9% and there is a 4% loan fee deducted from the loan amount.

To apply, parents must carefully follow these steps for the upcoming academic year after June 1 at studentloans.gov by "Signing In" with the parent's FAFSA PIN:

STEP A. Every year at studentloans.gov, click "Request a PLUS Loan," and choose the "Parent PLUS" loan type to request the dollar amount of your loan and have a credit check completed.  Remember to factor in the 4% loan fee the government deducts from your loan when requesting the amount (for example, if loan is $10,000, amount that credits student's account is $9,600).
STEP B. For new Federal Direct Parent PLUS Loan borrowers, also "Complete a Master Promissory Note (MPN)" at studentloans.gov.
STEP C. Ashland University will be notified electronically from the US Dept of Education that you have applied for a PLUS Loan.
STEP D. If your credit is approved, Ashland University will process the loan.  If denied, we will add additional Unsubsidized Stafford Loan funds to your student's financial aid award if he or she is eligible.